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Half of Purchases Cannot Be Treated as Bogus Without Verification: ITAT Delhi
Case Law Details
- Case Name
- ITO Vs Bansal Insulation Products Pvt. Ltd (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Delhi
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ITO Vs Bansal Insulation Products Pvt. Ltd (ITAT Delhi)
Reopening Saved But ₹8.31 Cr Cash Credit Addition Quashed- Half of Purchases Cannot Be Treated as Bogus Without Enquiry – ITAT Delhi: Rebukes AO for Blind Reliance on Investigation Wing
The matter arose out of reassessment proceedings initiated against Assessee wherein AO had made an addition of ₹8.31 crore u/s 68 on account of alleged accommodation entries & further added ₹16.62 lakh as commission said to have been paid to entry operators. CIT(A) deleted the additions & also held that the assessment itself was barred ...
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